North America and Europe Coconut Derivatives Market Size To Expand at a Notable CAGR Of 12.87% During 2022 - 2030

February, 2022/MRFR Press Release/- Market Research Future has published a report on the Global North America and Europe Coconut Derivatives Market.

Market Analysis

The North America Europe coconut derivatives market is expected to grow by leaps and bounds at a startling 12.87% CAGR over the predicted years (2022-2030). The key coconut derivatives in this region include coconut milk, coconut water and coconut oil. Coconut oil has turned into a phenomenon owing to its versatility. No wonder the market today is flooded with a plethora of coconut products. Coconut oil is used for brushing teeth, used for making candles, used in shampoos and moisturizers, baking, frying and so on and so forth. Coconut milk is regarded as a miracle liquid as this helps in protecting the body against infections. It is rich in healthy saturated fatty acids and is thus ideal for patients with lactose intolerance. Also, it is rich in potassium so will prevent cardiac arrhythmia and improve blood pressure. Along with being used for making curries and desserts, coconut milk is also used to condition hair, prevent premature ageing and treat different forms of skin ailments. These coconut derivates treats acne too. The next is coconut water which offers a wide range of benefits such as improved digestion, better skin texture and weight management. More and more people are consuming coconut water as it is a natural re-hydrating fluid rich in sodium, potassium, magnesium and calcium thereby making it an excellent choice as a post-workout drink.

The factors that has resulted in the promising growth of the North America Europe coconut derivatives market as per the Market Research Future (MRFR) report include, various government initiatives undertaken by the government to support coconut water consumption, availability of sports drinks made with coconut water for attracting sales, coconut water taken as a substitute for processed juices and carbonated drinks due to its blending and nutritional capabilities and numerous health benefits that coconut derivatives offer. On the other hand, reduction in coconut production is likely to act as the key restraining factor for the North America Europe coconut derivatives market.Market Segmentation

As per the MRFR report, the North America Europe coconut derivatives market has been segmented on the basis of type, category and application.

Based on type, it is segmented into coconut milk, coconut sugar, coconut flour, coconut water, coconut oil and others. Of these, coconut oil is expected to grab a noteworthy share during the predicted years. Coconut oil is deemed to touch USD 6,377.7 million at 10.11% CAGR by 2028.

Based on category, the North America Europe coconut derivatives market is segmented into organic and conventional. Of these, the conventional is predicted to touch 96.3% market share during the predicted years. This is chiefly owing to the pocket-friendly cost of coconut production.

Based on application, it is segmented into pharmaceuticals, cosmetics, food and beverage and others. Of these, the food and beverage are expected to rule the North America Europe coconut derivatives market during the predicted years.

Regional Analysis

Based on region, the North America Europe coconut derivatives market covers growth opportunities and latest trends across North America and Europe. Of these, North America is predicted to have 52.3% share in the market and is likely to hold its dominance. This growth is due to the shift for healthy food habits along with rising intake of coconut water. In fact, the key players in this market has adopted vigorous marketing campaigns which is anticipated to boost the coconut derivates market in North America and Europe towards an upward trajectory. This regional market will be led by the US.

On the other hand, Europe will continue in being an immensely lucrative market owing to the inclination of the consumers towards veganism. Veganism in Europe has turned immensely popular on account of social media influence, animal welfare activism and different health benefits. Vegans are in favor of coconut derivatives for its high nutritional content. Besides, increasing health concerns amid consumers, shift towards a healthy lifestyle and increasing obese population will fuel the demand for North America Europe coconut derivatives market. Packaged coconut water being sold in large numbers may also help in catalyzing the creation of revenue for the market players.

Key Players

Leading players profiled in the North America Europe coconut derivatives market include Barleans Organic Oils L.L.C., The Hain Celestial Group, Marico Ltd., Celebes Coconut Corporation, Vita Coco, PepsiCo, Inc., The Coca-Cola Company, Goya Foods, Inc., The White Wave Foods Company, and McCormick & Company, Inc.

Feb 2019- Popular coconut water brand, Taja Coconut has finally come up with its sugar-free and non-GMO bottled coconut water. The coconut water is extracted through the patented cold-filtered process where all nutrients are kept intact by avoiding any use of additives, heat or air.

Nov 2018- Bank Indonesia is looking forward to come up with a program that will help in diversifying coconut products.